Will AMD Stock Fly or Fall in 2023?
So far in 2022, Advanced Micro Devices (NASDAQ: AMD) investors have taken it on the chin with the stock for the chipmaker down roughly 47%. But recent stock price action suggests the year could end on a positive note with some level of recovery.
Share prices of AMD are up about 36% in the past month, bringing some relief to investors who witnessed a brutal sell-off for most of the year. But will AMD be able to sustain this recovery momentum for the remainder of 2022 and into the new year? Let's take a closer look and see if we can find the answer.
The data center business was a bright spot for AMD this year, helping the company mitigate the negative impact of a weak personal computer (PC) market. Sales of data center chips produced $4.4 billion in revenue for AMD in the first nine months of 2022, up 74% from the same period last year. The segment's revenue increased 45% year over year in the recently reported third quarter to $1.6 billion, driven by market share gains in the server processor space.
Source Fool.com
